Finance Feeds logo

Rise of the non-bank Prime of Primes: Invast Global gains further liquidity from Citadel Securities

Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital

In yet another sign of the rise of non-bank entities in the institutional FX industry, Citadel Securities has partnered with Invast Global to become the newest liquidity provider available via the Invast Global multi-asset prime services facility, PurePrime. PurePrime now offers disclosed bank, non-bank and ECN liquidity with aggregation of more than 20 unique FX […]

In yet another sign of the rise of non-bank entities in the institutional FX industry, Citadel Securities has partnered with Invast Global to become the newest liquidity provider available via the Invast Global multi-asset prime services facility, PurePrime. PurePrime now offers disclosed bank, non-bank and ECN liquidity with aggregation of more than 20 unique FX and Metals liquidity providers.

The partnership follows growing global demand for the Invast PurePrime facility in the Prime-of-Prime space. Tailored for institutional clients, hedge funds and sophisticated traders, PurePrime offers bespoke, optimised FX and CFD liquidity with multiple trading GUIs, backed by 3 Tier 1 Prime Brokers.

Indeed, Invast has established itself as a superior prime brokerage alternative amidst the growing contraction of investment banks in the FX services sphere. As Invast CEO Gavin White says, “Invast is pioneering the distribution of non-bank liquidity. The PurePrime facility provides an unparalleled channel by which institutions are able to easily access premium non-bank liquidity.”

Citadel Securities is a leading global market maker and a part of Citadel LLC, which also runs a hedge fund business. Citadel Securities is led by CEO Kevin Turner – previously COO of Microsoft, and provides liquidity across fixed income, equities and FX. In FX, Citadel Securities specialises in spot G10 and emerging markets foreign exchange and bullion.

This confirms yet another leap forward for Invast as it further strengthens its PurePrime facility, expanding on unique pricing streams and excellence in trade execution. As White concludes, “the FX space is rapidly evolving, as regulatory reforms reshape the banking industry. Invast is at the forefront, providing institutional clients with a premium alternative to traditional bank prime services.”

Featured photograph: Gavin White, CEO, Invast Global

Subscribe

Read this next

Digital Assets

Bloomberg, Hashdex expect SEC’s imminent approval of Bitcoin ETFs

Hashdex, an asset manager among the 13 contenders for launching a spot Bitcoin exchange-traded fund (ETF) in the United States, anticipates the debut of the first spot Bitcoin ETF by the second quarter of 2024, with a spot Ether ETF expected to follow.

Bitcoin ETF
Industry News

Witness the intensifying competition as UF AWARDS MEA 2024 nominations persist!

The countdown is on, with less than two weeks remaining to nominate outstanding brands for this prestigious event, culminating in the highly anticipated ceremony during iFX EXPO Dubai 2024 in January.

Retail FX

Saxo Bank’s FX volumes rise despite overall lackluster turnover

As many currency markets saw a relatively active period in November, Copenhagen-based Saxo Bank reported its monthly metrics, which showed a moderate rebound month-over-month.

Saxo Bank
Market News

S&P 500 Rally Faces Abrupt Halt: Analysts Assess Market Signals

The S&P 500, a benchmark index tracking the stock performance of 500 of the largest US companies, has ignited a flurry of discussions among financial analysts due to its recent performance.

FXOPEN
Interviews

TraderEvolution at FMLS:23: Andrew Saks on how brokers can go multi-asset

In an insightful interview with FinanceFeeds, Andrew Saks of TraderEvolution Global discussed the industry’s evolution towards multi-asset trading. He highlighted challenges in integrating diverse asset classes and the importance of API connectivity. Andrew also touched on emerging trends in options, futures, and fixed income, underscoring the need for adaptable trading technology in today’s dynamic market.

FMLS2023: FinanceFeeds interviews
Market News

Powell’s Pivot Navigating the Dynamics of USD, Interest Rates, and Market Expectations

Federal Reserve Chair Powell has signalled a decisive end to the cycle of interest rate hikes for the USD.

Market News

Inflation Concerns, Policy Divergence, and Market Sentiments in the UK

Amidst the recent global revaluation of inflation, Megan Greene, a steadfast MPC member, advocates for a proactive stance. Addressing concerns in Leeds, she calls for an upward adjustment of the Bank of England’s policy rate, cautioning against the potential risks of a too-conservative approach. Greene questions the assumed restrictiveness in the current monetary stance, suggesting it might be less robust than perceived, especially in scenarios of persistent inflation.

Digital Assets

JPMorgan’s stablecoin ventures into interbank transactions

JPMorgan Chase & Co.’s proprietary digital token, JPM Coin, is set to expand its use case by facilitating interbank transactions on Partior, a blockchain ledger developed in collaboration with DBS Bank, Temasek, and Standard Chartered.

Retail FX

Interactive Brokers’ client base surges past 2.5 million

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.89 million daily average revenue trades, or DARTS, in November 2023 compared to 1.93 million transactions in the prior month. The figure is three percent lower on a yearly basis, and also dropped slightly from a month earlier.

<
✖